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 youth and much of their usefulness—after they have become commonplaces of the intellectual furniture of a new generation which has grown up under, and has had its habits of thought shaped by, the new, extra-scholastic body of knowledge and the new standpoint. This is true of the recent past. How far it may be true of the immediate present it would be hazardous to say, for it is impossible to see present-day facts in such perspective as to get a fair conception of their relative proportions.

So far, nothing has been said of the Mæcenas function of the well-to-do, which is habitually dwelt on at some length by writers and speakers who treat of the development of culture and of social structure. This leisure-class function is not without an important bearing on the higher learning and on the spread of knowledge and culture. The manner and the degree in which the class furthers learning through patronage of this kind is sufficiently familiar. It has been frequently presented in affectionate and effective terms by spokesmen whose familiarity with the topic fits them to bring home to their hearers the profound significance of this cultural factor. These spokesmen, however, have presented the matter from the point of view of the cultural interest, or of the interest of reputability, rather than from that of the economic interest. As apprehended from the economic point of view, and valued for the purpose of industrial serviceability, this function of the well-to-do, as well as the intellectual attitude of members of the well-to-do class, merits some attention and will bear illustration.